UAE insurers recorded total gross written premiums of AED 38.4 billion in 2023, up 15.2% year on year, yet motor still dominates at 46% of non life. With comprehensive motor growing to AED 8.2 billion and third party claims averaging AED 4,200 per claim, the market tells a clear tale of rising costs and shifting coverage preferences. Alongside life premiums hitting AED 4.1 billion for new business and policy sales reaching 1.2 million, this is a market where growth and risk are moving in different directions.
Key Takeaways
- Motor insurance GWP was AED 12.5 billion, 46% of non-life in 2023.
- Comprehensive motor policies grew 16% to AED 8.2 billion GWP.
- Third-party motor claims averaged AED 4,200 per claim in 2023.
- Life insurance new business premiums totaled AED 4.1 billion in 2023.
- Number of life policies sold increased by 14.2% to 1.2 million in 2023.
- Term life insurance held 55% market share in life segment in 2023.
- AXA Gulf held 14.2% market share in general insurance in 2023.
- Dubai Islamic Insurance and Reinsurance (AMAN) had 9.8% share in Takaful.
- Oman Insurance Company captured 11.5% of motor segment.
- The UAE insurance market's total gross written premiums (GWP) reached AED 38.4 billion in 2023, reflecting a year-on-year growth of 15.2% driven by increased demand in health and motor segments.
- In 2022, the UAE non-life insurance sector accounted for 68% of total GWP, totaling AED 25.1 billion.
- Life insurance GWP in UAE grew by 18.7% to AED 12.3 billion in 2023 from AED 10.4 billion in 2022.
- UAE insurance penetration rate was 2.1% of GDP in 2023.
- Insurance density in UAE reached USD 1,050 per capita in 2023.
- Health insurance penetration among expatriates was 98.5% in Dubai by 2023.
UAE insurance grew strongly in 2023, led by motor premiums and expanding life and health coverage.
Related reading
01 · Category
General Insurance14 stats
01
Motor insurance GWP was AED 12.5 billion, 46% of non-life in 2023.
02
Comprehensive motor policies grew 16% to AED 8.2 billion GWP.
03
Third-party motor claims averaged AED 4,200 per claim in 2023.
04
Property & casualty insurance GWP reached AED 6.3 billion in 2023.
05
Fire insurance claims from commercial properties totaled AED 1.2 billion.
06
Marine cargo insurance premiums were AED 1.8 billion in 2023.
07
Liability insurance GWP increased 21% to AED 2.1 billion.
08
Cyber insurance policies sold numbered 4,500 with GWP AED 650 million.
09
Construction all-risk insurance dominated engineering at AED 1.4 billion.
10
Travel insurance GWP post-COVID recovered to AED 420 million.
11
Energy insurance for oil & gas sector was AED 2.9 billion GWP.
12
Theft claims in personal accident insurance rose 12% to AED 280 million.
13
Workers' compensation premiums totaled AED 3.5 billion in 2023.
14
Aviation insurance GWP was AED 750 million for UAE carriers.
Interpretation
General Insurance Interpretation
In UAE general insurance, motor underwriting is the clear driver with GWP of AED 12.5 billion in 2023 making up 46% of non-life and comprehensive policies rising 16% to AED 8.2 billion, far outpacing property and marine lines at AED 6.3 billion and AED 1.8 billion respectively.
02 · Category
Life & Health Insurance18 stats
01
Life insurance new business premiums totaled AED 4.1 billion in 2023.
02
Number of life policies sold increased by 14.2% to 1.2 million in 2023.
03
Term life insurance held 55% market share in life segment in 2023.
04
Savings and investment-linked products grew 28% to AED 3.2 billion GWP.
05
Group life insurance premiums reached AED 2.8 billion in 2023.
06
Individual life insurance penetration was 12% among UAE nationals in 2023.
07
Critical illness riders attached to 35% of life policies in 2023.
08
Annuity products GWP was AED 850 million in 2023.
09
Health insurance covered 15.3 million lives in UAE in 2023.
10
Outpatient health claims averaged 62% of total health claims value.
11
Inpatient hospitalization claims cost AED 4.7 billion in 2023.
12
Maternity coverage in health policies reached 78% utilization rate.
13
Dental add-ons in health insurance grew 19% YoY to 25% attachment rate.
14
Chronic disease management claims rose 32% to AED 1.9 billion.
15
Telemedicine claims under health insurance totaled AED 450 million.
16
Family floater health policies covered 68% of expatriate families.
17
Senior citizen health premiums averaged AED 18,500 annually.
18
Wellness benefits included in 45% of corporate health plans.
Interpretation
Life & Health Insurance Interpretation
In the UAE Life and Health Insurance market, 2023 momentum was clear as life new business premiums reached AED 4.1 billion and policy sales jumped 14.2% to 1.2 million, while savings and investment-linked products grew 28% to AED 3.2 billion, showing consumers are increasingly choosing financially oriented life coverage.
More related reading
04 · Category
Market Size & Growth20 stats
01
The UAE insurance market's total gross written premiums (GWP) reached AED 38.4 billion in 2023, reflecting a year-on-year growth of 15.2% driven by increased demand in health and motor segments.
02
In 2022, the UAE non-life insurance sector accounted for 68% of total GWP, totaling AED 25.1 billion.
03
Life insurance GWP in UAE grew by 18.7% to AED 12.3 billion in 2023 from AED 10.4 billion in 2022.
04
The overall UAE insurance market size was valued at USD 10.5 billion in 2023.
05
Takaful insurance contributed AED 8.7 billion to the UAE market in 2023, up 22% YoY.
06
UAE insurance market CAGR from 2018-2023 stood at 11.4%.
07
General insurance premiums hit AED 26.8 billion in H1 2024.
08
The market expanded to USD 11.2 billion by end-2023 per IMF estimates.
09
Property insurance GWP reached AED 4.2 billion in 2023.
10
Motor insurance dominated non-life with AED 12.5 billion in GWP for 2023.
11
Health insurance GWP surged to AED 9.8 billion in 2023, a 20.1% increase.
12
UAE insurance density was AED 3,850 per capita in 2023.
13
Total assets of UAE insurers grew to AED 145 billion in 2023.
14
Net premiums earned reached AED 32.1 billion in 2022.
15
Reinsurance ceded amounted to AED 7.9 billion in 2023.
16
Investment income for UAE insurers was AED 4.5 billion in 2023.
17
Claims paid out totaled AED 22.3 billion in 2023 across all segments.
18
Loss ratio for non-life insurance averaged 65.2% in 2023.
19
Expense ratio stood at 28.4% for the UAE market in 2023.
20
Combined ratio for general insurance was 93.6% in 2023.
Interpretation
Market Size & Growth Interpretation
The UAE insurance market is expanding strongly under the Market Size & Growth lens, with total gross written premiums hitting AED 38.4 billion in 2023, up 15.2% year on year and supported by an 11.4% CAGR over 2018 to 2023.
05 · Category
Penetration & Density20 stats
01
UAE insurance penetration rate was 2.1% of GDP in 2023.
02
Insurance density in UAE reached USD 1,050 per capita in 2023.
03
Health insurance penetration among expatriates was 98.5% in Dubai by 2023.
04
Life insurance penetration grew from 0.8% to 1.2% of GDP between 2020-2023.
05
Motor insurance coverage rate hit 92% of registered vehicles in 2023.
06
Takaful penetration in UAE was 22.6% of total GWP in 2023.
07
Bancassurance channel accounted for 35% of life insurance sales in 2023.
08
Digital insurance penetration reached 28% of new policies in 2023.
09
Employer-sponsored health insurance covered 85% of workforce in 2023.
10
Property insurance density in Abu Dhabi was AED 450 per capita in 2023.
11
Overall insurance expenditure per household averaged AED 2,800 annually in 2023.
12
Non-life insurance penetration rate was 1.4% of GDP in 2023.
13
Life insurance policies in force numbered 5.2 million in 2023.
14
Average premium per life policy was AED 2,365 in 2023.
15
Health claims per insured person averaged AED 1,850 in 2023.
16
Motor third-party liability coverage was mandatory for 100% of vehicles.
17
Insurance awareness campaigns boosted retail penetration by 15% in 2023.
18
Female policyholders represented 42% of total in 2023.
19
Under-30 age group penetration grew 25% YoY to 18% share.
20
Rural areas insurance density lagged at AED 1,200 per capita vs urban AED 4,500.
Interpretation
Penetration & Density Interpretation
Under the Penetration and Density lens, the UAE is expanding insurance reach with penetration rising to 2.1% of GDP in 2023 and density reaching USD 1,050 per capita, while key lines like motor coverage cover 92% of registered vehicles and takaful accounts for 22.6% of total GWP.
06 · Category
Regulatory & Projections22 stats
01
UAE insurance market projected to reach AED 55 billion by 2028 at 9.5% CAGR.
02
Health segment expected to grow at 12.8% CAGR to 2027.
03
Digital transformation to contribute 35% growth by 2025 per IA.
04
Mandatory health insurance extended nationwide by 2025.
05
Takaful market forecasted at AED 15 billion by 2027.
06
ESG integration to boost sustainable insurance by 20% growth.
07
Motor telematics adoption projected for 40% policies by 2026.
08
Cyber risk premiums to reach AED 2 billion by 2028.
09
Life insurance penetration targeted at 3% GDP by 2030.
10
Insurtech investments to hit USD 500 million by 2025.
11
Regulatory sandbox approved 12 insurtechs by 2024.
12
Solvency II regime fully implemented boosting capital by 15%.
13
Open insurance architecture rollout by 2025 for data sharing.
14
Climate risk disclosures mandatory from 2024.
15
Pension-linked insurance products to grow 30% post-reforms.
16
Non-life CAGR projected at 8.2% to AED 40 billion by 2028.
17
Microinsurance for low-income to cover 2 million lives by 2027.
18
AI claims processing to reduce turnaround by 50% by 2026.
19
Parametric insurance products to reach AED 1.5 billion GWP by 2028.
20
Market consolidation expected with top 5 holding 60% by 2027.
21
USD 14.2 billion market size projected for 2027.
22
18% growth in premiums forecasted for 2024 alone.
Interpretation
Regulatory & Projections Interpretation
With UAE insurance market growth projected to hit AED 55 billion by 2028 at a 9.5% CAGR, regulatory pushes like nationwide mandatory health insurance by 2025 and faster health expansion at a 12.8% CAGR through 2027 are set to be key drivers shaping the Regulatory & Projections outlook.
report visual · Comparison
UAE insurance grows—motor and health lead in 2023
Market expansion in 2023 was driven primarily by health and motor segments, with motor remaining the largest non-life line.
Motor insurance GWP was AED 12.5 billion, 46% of non-life in 2023.46%
Health insurance GWP surged to AED 9.8 billion in 2023, a 20.1% increase.20.1%
The UAE insurance market's total gross written premiums (GWP) reached AED 38.4 billion in 2023, reflecting a year-on-yea15.2%
Motor insurance dominated non-life with AED 12.5 billion in GWP for 2023.12.5
Reference
Cite This Report
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APA
Felix Zimmermann. (2026, February 13). Uae Insurance Market Statistics. Gitnux. https://gitnux.org/uae-insurance-market-statistics
MLA
Felix Zimmermann. "Uae Insurance Market Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/uae-insurance-market-statistics.
Chicago
Felix Zimmermann. 2026. "Uae Insurance Market Statistics." Gitnux. https://gitnux.org/uae-insurance-market-statistics.
Sources & references
53 datasets cited across this report · attribution is report-level
+1 additional datasets cited (not shown individually)